Global stocks fell upon news from the World Bank that growth estimates for the global economy for 2013 have dropped from a 2.4 percent estimate made in January to 2.2 percent. Worry that central banks will begin cutting stimulus caused the forecast to fall.
Futures at 8:30 a.m.: DJIA: -0.21% S&P 500: -0.25% NASDAQ: -0.26%
Here’s what’s buzzing Thursday morning:
Royal Bank of Scotland (NYSE:RBS) shares fell two percent yesterday after the bank announced CEO Stephen Hester would be leaving the company after five years in the position. As the bank begins the privatization process, the board concluded that RBS needs a CEO that would be able to see the company through privatization, a time commitment Hester wasn’t willing to make. RBS will continue to cut jobs as it restructures its business, and Hester’s successor has not yet been named.
Facebook (NASDAQ:FB) is finally embracing the hashtag that has helped make Twitter so popular. The social network wants to make it easier for users to search for content, and since many people already use hashtags on the site, it only makes sense for Facebook to make them clickable. The hashtag has crept into almost all social media sites, and Facebook may even begin utilizing them for advertising.